What Happens When You Sell A Company For $1 BILLION
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- Опубликовано: 28 авг 2024
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Why not delay the transaction to move out of high tax area and then claim the money?
Because the people offering $1B could back out if you're making them wait
@@Kyle_G_Sy but why not move to a lower tax area as soon as you even begin to consider selling your company? So you already prepare everything in advance.
There’s still federal income tax which is huge
Gonna take the money either way. Even if you move to another country they can claim taxes. Gotta get rid of your United state’s citizenship in order to be free of taxes.
When it's that much money does it really matter if you have to give up half of it? 500 million is more than any sane person could spend in a life time. I get the desire to keep it all because they feel like they earned it but is your life going to be any better with a billion dollars than 500 million?
Finally some relatable content.
Underrated lmaoooo
Xddd
🤣🤣🤣🤣🤣🤣🤣 funny af
😅
Are you talking about a billion dollar or the taxes that’s being paid??? Lololol😂😂😂
"What about taxes"
"Uh, you pay them" 😂
dudes a billionaire and he's trying to move out of LA because it's too expensive lmao
Well, imagine paying as much tax as you and 10 of your next generations together wouldnt be able to earn in their lifetime
Makes more sense. Even if he saves 10% on tax it will save him around $100 million within the next 5 to 10 years.
You don’t understand money
13% of $1B is $130M
This comment screams poor mindset
If I ever sell a company for a billion dollars I want a giant sized check.
and a picture with me and the person buying the company holding it
@@madlad4206 Yes !! Exactly like that
And a target on ur head for all the people that know u have a billion dollar check 😂
@@joefoe262 well now the whole world knows from this video lol he’s not hiding it good
@@daisyanne7376 he wasn’t talking about the dude in the video lol it was the commentator op
He will move somewhere other than California and vote the same laws in he had there
@@Jeff-jl2xc look at Austin
@@Jeff-jl2xc ya that, its funny you dont think that. Austin, Dallas, liberals dont want to pay for their own mornonic ideology.
@@Jeff-jl2xc and I lost IQ points reading yours.
@@Jeff-jl2xc yes really dumbass that's what happened in Texas
@@Jeff-jl2xc according to you Lol
I was a part of one of these types of transactions once as a banker. A man sold his stake in a private equity firm and was expecting a little over 100mil. 2 months later, accounts were established, sale went through and the wire went into the receiving account to disperse accordingly. For that 2 hours it sat in 1 account, my imagination flowed.
Unimaginable right?
Did you also imagine prison with a toilet right next to your bed?
@@jakemccoy😂😂😂
I love how you tried to pass $1b as a 9 figure number
Looks like your right.
100,000,000 would be 9 figures
a number and 9 zeros, actually
Gets $1B deposited in bank account
Next day: Bank becomes insolvent and you just get $250k
lmao i was thinking this too
“Tax the rich” the rich : move where there’s less taxes
Well yeah, who tf wants to spend literally 60% of their time working for free? Fuck that
Agreed, tax the poor.
@@Odin4President the poor move out of country 💀
@@Odin4President they just won't pay
there’s a reason dubai is so popular… legit 0 tax
Always wondered how that works 😂
lmao dude got rich and changed his mind about taxes
I'm not rich, and I belive we need a better tax system
I wouldn’t mind if billionaires left America.
@@MNpaleoh yeah you would lol
@@MNpale The rest of us wouldn't mind if freeloaders left America.
@@MNpalebasically you want society to collapse?
G. Newsom: "FINALLY someone who'll pay for my next vineyard" :D:D
Everyone is all for taxes till they start getting taxed 😂😂
Poor billionaire with his billions of dollars having to pay nasty taxes 🥺 he probably couldn’t afford rent that month 😢
@@OJsY You have "poverty" plastered all over you
@@snelle_tomos nah, I just don’t get on the bootlicking wagon of poor guys trying to defend billionaires not paying taxes (which you as a poor guy DO have to pay)
@@snelle_tomos You have "completely out of touch with reality and what's going on in the country' plastered all over you
@Mc Frosty you have anime vibes. You're a gross trans.
I cant wait for that feeling not for me but it will give me some amount of peace of mi d knowing my family will not have to worry about food or shelter.
Right now is not the time to put all that money in one uninsured bank
If Chase goes broke then we got serious problems
Good point, I hope he is diversifying.
People in the comments saying to move to another state to claim the money… unfortunately it doesn’t work like that. He would still be legally obligated to pay California taxes since he built his business while live there. He could miss some state Texas depending on where his business is registered. Move to another country or another state doesn’t matter. The IRS ain’t playing no games on a 1 billion dollar transaction….
Incorrect. It is irrelevant where he was living when he launched and grew the business. What matters is where he was domiciled when he sold the business. Had he been living in Wyoming for instance, he would have paid no state taxes.
It's so stupid that rich people say that taxes in a place like California "don't make sense". You leverage all of the public infrastructure, the schools, job opportunities of California to build a company. When you sell it, success stories like this pay taxes so that we can keep that system going for the next generation.
I was waiting for "what bank account did you have" SVB Bank !!! 😭 good bye money 💰 it was nice knowing ya 😂😂😂
I find it hilarious how lottery winners distant family members show up when they find out their 100th cousin won, I’d tell them to "get f*cked" and leave it at that.
I’ve watched his content and I’m very happy for him. Well done man 👏
everything is amazing until they have to charge you taxes because you the 1%
.01% of the 1%
Imagine having Hundreds of Millions of Dollars and bitching about Taxes. If he sold his company for a Billion in California he’d still be worth $911,600,000 Million. In Texas he’d still have $980,030,000, but if he just left that money in a Savings Account for a year and didn’t touch it he’d recoup basically everything he lost to Tax for living in California, as it is only a 6% difference.
@@markstaud I don’t think you understand how much taxes are in California. I also don’t think you understand federal taxes. How old are you?
@@markstaud wrong if he sold his company for 1 billion California’s annual state tax is 8%. That’s roughly $125 million. That’s not counting federal
@ColoradoLiftedYeti bro how did you even pass school? 8% of a billion is 80 million lol not 125, that would be 12.5%
Great insights!
I personally dont mind spending tax i just want them to use it well
Lol that never happen kid
Ukraine 🇺🇦
@@extraslipperywhenwet bruh they’ve been funding unnecessary wars in asia and you’re only noticing ukraine? do you really think all that money even arrives there?
Large amount will be sent to Israel and military to kill civilians
If government only spent your tax dollars on what you approved of, there’d be no need for them to take it from you by force.
i would not sell my company for cash, id sell it for assets. so i can dodge the taxes on it.
Money is the worry of a lot of people, so people would rather not define themselves using numbers
why would you put a billion dollars in a bank account that only insures 250k?
Billion Dollar Wire & dude got to sell his house in Cali.
More rich they get, they find more ways to save money
If you sell accompany for $1 billion and you live in LA, ughh painful
“I voted this state into hell and now I want to leave”
That's what politicians tell you to keep voting for them. You really think a handful of Californians moving there will magically change Texas? You people are bad at math.
doesn’t california have the cheapest property tax in the country? I know people who went from california to texas and had some major shock when their property taxes came in
Does your google not work?
California taxes like a scandinavian / Nordic country without any of the benefits
California just needs to pay for an enormous and inefficient road infrastructure and for the world’s largest prison population. Nordic countries can use their money on better things.
These are the questions I want to know!
You know how satisfying it would be to see that and how horrible you would feel once you gotta pay the tax man 🤣
Oh no. I have to pay taxes if I make an obscene amount of money…
Yes and?
imagine they deposit it to the wrong account and some random dude is automatically set for life.
It has happened quite a few times before.
The banks and govt make you give back EVERY penny you spent.
@@SimranjeetSingh-eh4bcIn Europa you get to ceep it 100%
@Daniël well that is great!
Thank goodness you brought this up! Truly, investing has changed my perspective on how one can succeed in life; working multiple jobs isn't the optimal way to attain financial freedom and unfortunately, we discover this later in life. Currently earn as much as 10 grand weekly and this has improved my financial life. Great piece!
She's OLIVIA SULLIVAN FINANCIALS
You're right! I have lost a lot trading all by myself without a guide. It's been an uneasy ride for me, not until I meet Olivia Sullivan
Best life changing advice is to pick a good financial mentor and let them guide you towards wealth. This really saves you from loss and time wasting. I am glad I know Olivia Sullivan.
Your right, people make money even when the market is down. I started investing recently and realised there's a secret to constant wins .
All the cruise line companies got their headquarters in Bahamas because of the tax..
and the shitty employment laws..
Nice new haircut jack!
That is literally the dumbest way to accept a billion dollars. The second it hit his account, he would have had to give the government more than half. He just lost $500M by not hiring a skilled tax accountant.
I agree but then again he will always gonna have to pay all those fees no matter what state he would live in and their is literally noway around it
Unless he decides to get ride of his citizenship and live somewhere tax free like Qatar or dubai he would get the full price
Yup. Robert Kiyosaki wouldn't pay taxes of that magnitude.
Move to Monte Carlo, then sell the company.
Man, I hope I have this issue one day.
These are the people we do not want in Texas.
Considering TX has higher tax rates then CA you don't have to worry.
@@jasonhensley2452 would you like to take a moment to educate me?
Unfortunately these are the people Rick Perry was trying to attract in the 2010s when he visited California, begging for a Tesla factory. And Greg Abbot likes to brag about Californians moving to Texas as well. They get to brag, but sucks for ordinary Texans. I agree when CA sends people, we’re not sending our best. Never leaving 😎
Hopefully they all stay in Austin, Houston, and San Antonio
Unlike Texas, my state knows better than to brag about Californians moving in. Idaho has had a huge influx, and we tolerate it at best.
A billion has 10 digits, but who’s counting except the guy who got the money anyway? Lol..plz shoot me.
How else are they going to pay reparations. 😂
For a non slave state to boot
Rich gotta pay their fair share of taxes too
"Fair share" is a general term with no defined amount. Done that way to always be able to say that "the rich need to pay their fair share." A true "fair share" is a flat tax rate.
"Rich" also has no defined amount. Being rich doesn't equate to making taxable income.
This guy likely paid around 35% in taxes. If it wasn't considered long term capital gains, we'd be talking over 50%. Quite a bit to lose for creating + selling a successful business.
@@Terirthcost of doing business that he was well aware of when he started his work. Hell, taxes are at a historical low for transactions like these- before the 80s the total tax burden would’ve been over 50%. He’s pretty lucky he only has to pay so much and is still MORE than set for his life + the lives of any other people he decides should benefit.
@@OopsAllFrench That's not business? It's an investment. Selling a business appears to be capital gains. The problem with investments is you can lose all your money too.
People only like to look at the successes and never the failures.
You pay an extra 13.3% if you live in CA.
Such a big issue in the US, flea to a state with lower taxes when your rich. There is a reason that the golden age for the middle class was the 50s and 60s and started its decline in the late 70s.
I tried quest the other day and let me tell y’all i am hooked
It makes me unbelievably angry how relaxed people are about the oppressive taxes we are subject to
At least it wasn’t SVB. 😅
Don't disrespect that man by saying 9 figures, a billion 10 figures. 1,000,000,000 see. How dare you.😅😅😅😅
Don’t move to Texas we’re full. Respectively
Not even close with all that land
Man they taxes on that are probably like 400 million that’s ruthless lol
I pay 30% in taxes where I live and that’s about as much as I would ever say is “fair”. California has that 13% state tax for the rich. So they would be paying 50% in taxes. Then there’s the 10% sales tax on everything.
This would be the Corporate Tax Rate which is 8.84% in California. So he’s still worth more than $900,000,000 and he’s complaining about it.
@@markstaud agreed. Anyone who has more than $10M in the bank should shut the fuck up about their taxes lol. Just enjoy your life and your millions dude. 😂
40% tax on income and 24% VAT. I thought California was supposed to be progressive but i guess not. Big V8's in every corner just polluting the air. Absolutely insane.
@@markstaud why does it matter how much is he worth? You think as you become rich you want to throw your money away??😂 real brainiac 😂
@@markstaud I just looked it up. He's worth 400 million. CA and the fed took 50%.
Actually true… had a client sell his business for 500 million and had the check framed on his wall
California taxes are high but where else can you visit the beach, step in human 💩, get robbed and drink a glass of wine all in the same day?
All the same as soon as they get rich, they start complaining about the taxes !
Since taxes are based on percentage.. the bigger the figures are, the more you pay.
Furthermore when you get rich, you contribue more to the society as a normal human being.
I don’t even know what I would do if I had $100,000 let alone a billion. I think I would just go into shock.
There’s not much to do with 100k trust me bro
@@kk3577 you know absolutely nothing.
@@kk3577 heck of a lot better than having 1000 in your account
@@kk3577 I know 100,000 is not much anymore. To those who are struggling to pay bills and keep the lights on it feels like a dream. But I guess it’s all perspective. I have never had that perspective though… Always been poor lol
Some people are meant to be rich, others are meant to be poor.
“Painful amount of tax” - so patriotic!!!
I’m moving to Saudi Arabia THEN I take that money, then I move back to the states and go to a very low tax area.
I think if you are us cizten you still pay taxes even if you never step foot inside the US (for example if you have us parents and are an American as result)
@@amythomspon956 that's not true, it's where your permanent residence is. Dual citizens kids of Americans in the UK for example don't just automatically pay tax wages back to the US , it would all go to the UK.
@@Jjengering I am sure the us in the only country in the world where you are taxed by citizenship not residency.
Disgusting behaviour
Monte Carlo if you don't want to pay taxes.
Graham looking at him cause he can see the money😂
I would watch this video but there’s no link 🙂
I honestly cant comprehend what that much money being deposited to my account would look like.
All I heard was “I voted for taxes I didn’t fully understand and only regretted them when they became a problem for me personally.”
THIS COMMENT HERE
Majority of taxes for everyone including this dude is federal/state which largely haven’t changed for the 1% in the last 20 years.
Plus he’s still more than set for life + the lives of any other people he decides to pass the remaining millions onto when he dies.
These rich dudes just complain about taxes to seem relatable to the weirdo sycophants in these comments
Did he say he voted for certain policies? Maybe it was in the full interview. Or maybe you’re lumping millions of people together, assuming every single one of them voted or thinks the same way.
In 2016, the income tax ballot proposition (extending the 2012 increases) passed with 63% of the vote, meaning 37% voted no. You can’t generalize an entire state, whether it’s California or Texas or Florida. Wherever there’s a majority, there’s also a loyal opposition.
Americans have to pay taxes no matter where they are... why Monaco is primarily just European. Also why Swiss banks can decline you too
Something I don't think all incredibly wealthy people don't realize when they are complaining about higher taxes is that they are literally helping their entire community.
at that point if your selling your house might as well move somewhere else besides cali.
Then come to Spain bro 😂😂😂😂
Take all the goods from one place, got rich, move to other place to leach off.
FDIC only insured up to 250,000.
Per entity u have to divide it up an then u will be good
Spread the money bank accounts stocks, real estate, gold, and other metals, get assets that make you money, throw it all in a trust, or LLC protect yourself, alot of rich put them money in a life insurance policy they make more on the return then normal savings the take a loan against the policy and live that way
The looks on Grahams face when he said they just deposit it right into your account 🤑
That’s why I left CA…taxes
Do you not like roads, streets, bridges, firefighters, etc?
@@matthewviramontes3131 1% mental health tax on millionaires will make better roads? Do tell. With all that extra money coming in, why are encampments growing?
@@matthewviramontes3131 California has an average median wage of $68,510, whereas Texas is $54,230, Florida is $51,950. Which would offset the Tax Difference for most people. People understand Taxes so little they’re moving to a place that pays less.
@@markstaud 50k will get you further in those states than 70k will get you in Cali
@@matthewviramontes3131 Clueless, party of 1... your table is ready.
Rookie. Sell at 1bill after tax. Tax not your problem. Thats the buyers problem. You want 1bill out. Clean.
Painful amount or fair amount? I’d like to see what the percentage was
more than 50% for sure.
What is a fair amount of taxes?
Lol ending my life to this after working 60 hours a week for 3 years
Govt gotta get their cut of every transaction
Government is just a gang with the most weapons.
Or move to purto Rico before you close the deal and BAM 1 billion tax FREE.
I dont understand people who hate paying taxes. Do you not know where that money goes? Sure, argue everything you want about corruption or inadequacy or whatever. Its nice to have nice things
There is no upside to living in California if you can afford to live anywhere else.
If you make enough money you can enjoy a temporary rental or your business can own a property there for you to enjoy or you can visit and stay with friends..,
Should’ve changed the registration of the company into Panama, paid 0 tax for sale of business, opened bank account in 0 income tax country
you’d have to have connections to be able to pull that off not every rich guy is that that GUY
The greed in their eyes is wild
It's not greed they're all well off and if you made billion off selling your company your telling me you would want to pay a high amount of taxes or lower your tax to the bare bones so you can enjoy your money
Here's the thing with large deposits. Your account gets flagged by the "financial money management" department of that bank. They are like sharks, rats, and snakes all wrapped up into one. And they will show up at your residence! So, if you know that you are about to receive a LARGE sum of money, GET a Law Firm that has a reputation for having some of the most feared trial lawyers.
You tell them to fuck off. Nothing they can do.
Imagine knowing you are getting a billion dollars in your bank account and not having the brains to move a a tax haven first. I'll be like. Hold up buddy. I'm gonna give you a call when you can transfer the money. And call a team of international tax-advisors together.
U must be smart 🤓
I really need these problems in my life!
How tf can you complain about getting taxed when you have enough money for your next 4 generations
Because imagine you get a payout like that, and you end up with half. That would suck, doesn’t matter who you are
The money is only insured up to a certain amount in a regular bank account
Guy: what about taxes?
Dude: you pay them😅
Lol
Couldn’t imagine what taxes he pays. I’m in Indiana and I still pay 6 figure taxes every year!
Jack looks like an alien.....
He’s still worth $900,000,000+ and he’s complaining about Taxes. This is such a ridiculous video.
@@markstaud $900 million?? Holy crap lol
California government started charging a moving tax. They are charging people to leave.😅
Man should’ve tied whatever business to a residence in Dubai for their 0% income and business tax
You would still have to pay some taxes in the us since the buyer is american and the purshase was made in america
You can't actually because even if you have an llc outside of America the us is one of only two countries in the world that tax based on citizenship so if you're american you have to throw your citizenship away before selling an llc or any kind of a foreign company
Why does everyone think it’s as easy as that. Like the old saying goes “ if it was that easy everyone would’ve done it”
Person who wrote this is a tik tok university graduate. Who has no idea how business works lol
As of 2023 Dubai has a 9% Tax Rate and a 5% VAT Tax.
Isnt this the reason allot of corporations give stocks instead of real money when they buy your company
Leaving California is probably one of the smartest things you could possibly do.
quit bringing your crappy laws to the rest of us
Why?
Why do rich people pretend like they can't afford to live in LA or Manhattan. They are rich, and money is no longer an issue
Well you grown up sprem let me explain rich folks. The rich don't have an income they get paid in stocks, then they barrow against the stocks to fund assets that make them money. Also, living in a state that taxes you no matter what, also a state that hates you because you're wealthy, they realize it's not worth it and move to a cheaper state to make money last longer. if you have any other questions, comments , stupid replies, dail, 1800youranidiot again, that's 1800youranidiot. Thank you for coming again.
The moment when young liberal becomes old school conservative.
You guys really are allergic to class consciousness huh
@@Yogurt4655you guys are really allergic to basic logic and common sense huh
All I heard was "taxes are bs"
I always wondered if the IRS just immediately flags such a large amounts being deposited at once or not.
I guarantee there is a trigger system at like $1M or higher
Banks have to report a certain amount of money, once there is a threshold reached, per transaction and begin a federal investigation. With this amount of money, I guarantee you the FBI is getting involved, and you bet, even the IRS will.
@@HisDudeness1986 everybody need their part of the money.
@@LilDre15 them “needing their” money isn’t always the case. Transacting unusually large amounts of money is a red flag, so the feds want to know how (il)legitimate the transaction is. If you are depositing tens of thousands of dollars into an investment account, the bank is notifying the feds and you will never know an investigation is taking place; the bank will never tell you and they’re never supposed to. If your money is taxable income, and you have reported your earnings every year, that’s the end of the investigation - no audit. Passive income also needs to be reported, but I can regale you that tale another time.
What this billionaire is getting at is, that one billion dollar check he was given was not taxed, nor was it ever reported, and how could he when he was just cut a check for that much money. Therefore, he needs to pay what the IRS deems he owes while he is under a routine investigation, and the government is always going to get their money.
$10,000 in a day is the trigger for the IRS. That’s it. I’ve already been investigated for it.
Imagine asking someone who has 9 figures in their bank account to pay their share of taxes and they turn around and say “I DoNt ThiNk CaLiFoRniA tAx MaKeS sEnSe” 😂😂😂😂
What is fair?
A fair share would be a flat tax rate for everyone
@@kevinfernandez9999 why? Fair share would be same amount..
@@lukazupie7220 no it wouldn't be. A person making 30K and paying 10K in taxes vs a person making 300K paying 10K in taxes is not fair.
@@chickenceiling yes it is, as fair as possible when it comes to paying taxes.. actually if you don't make any money you should still pay the same.
Just like that they changed some numbers in a computer and the man never had to go hungry again. Never had chose one bill to pay over the other. Must be nice. Makes you wonder why they can just change numbers in a computer for more people
Imagine getting taxed over $300 million because the government decided so.
I feel so bad for the guy who still has 100's of millions left over
@@negoblleyou should. One less job for you to apply for and one more dollar taken by politicians to influence peddle with.
@@SamStam12That's going to happen no matter what you do.
Third dude got the BIG head
Poor billionare has to pay back to the society that allows him to exist
The society doesnt allow him to exist?